Mahindra Lifespace Developers Targets ₹8,000-10,000 Crore Sales by FY 2027-28

Mahindra Lifespace Developers Ltd, a Mumbai-based realty firm, aims to significantly boost its annual sales of residential and industrial properties to between ₹8,000-10,000 crore by the fiscal year 2027-28, driven by increasing demand. In the previous fiscal year, the company achieved sales of residential and industrial spaces amounting to ₹2,698 crore, up from ₹2,268 crore in FY 2023.

According to a recent investor presentation, Mahindra Lifespace outlined its target to achieve ₹8,000-10,000 crore in sales by FY 2027-28 across its residential and industrial park segments. The company has actively pursued land acquisitions and partnerships with landowners for residential projects, alongside venturing into housing society redevelopment in Mumbai.

In terms of financial performance, Mahindra Lifespace reported a slight dip in consolidated net profit to ₹97.89 crore in the last fiscal year, compared to ₹101.43 crore in the preceding year. Total income also decreased to ₹279.12 crore from ₹659.56 crore in FY 2023.

Amit Sinha, Managing Director and CEO, highlighted, “We achieved our highest ever annual sales in FY 24 driven by successful project launches throughout the year.”

The company also achieved record pre-sales of ₹2,328 crore in its residential business, covering 2.47 million square feet of saleable area and 1.84 million square feet under the RERA carpet area during the year.

Additionally, Mahindra Lifespace secured land leasing agreements for 119.4 acres in its industrial segment, amounting to ₹370 crore. Established in 1994, the company’s development footprint spans 37.33 million square feet across completed, ongoing, and forthcoming residential projects in seven Indian cities. It also manages over 5,000 acres of ongoing and forthcoming projects across integrated developments and industrial clusters in four locations.

About Mahindra Lifespace Developers Ltd

Mahindra Lifespace Developers Ltd specialises in real estate development, encompassing residential, commercial complexes, and infrastructure projects such as Special Economic Zones (SEZ) and Industrial Clusters through its subsidiaries. Mahindra Lifespace’s portfolio includes premium residential projects, affordable homes branded as ‘Mahindra Happinest®’, and integrated cities and industrial clusters known as ‘Mahindra World City’ and ‘Origins by Mahindra’.

On June 18, 2024, the share price of Mahindra Lifespace Developers Ltd opened at ₹619.50, touching the day’s high at ₹629.00, as of 10:54 AM on the NSE.

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